Octopus Real Estate, part of Octopus Group and a leading UK specialist real estate lender and investor, has announced that it will commence commercial lending in the Republic of Ireland, as it looks to expand beyond mainland UK.
A tailored solution for the Irish market, the product will offer support to brokers and borrowers, lending across the commercial real estate spectrum. With an established and straightforward approval process in place, clients will have access to short-term bridging finance upwards from €500,000, available for all types of commercial property transactions, including acquisitions, refinances, and equity release. The product is available across all asset classes, including land with planning for residential.
As a non-bank lender with discretionary capital, Octopus Real Estate can execute swiftly, upon approval, with an average four-week turnaround to the release of funds. The commercial lending product ensures a smooth and efficient process, enabling borrowers to move quickly and decisively in the real estate market.
With a competitive arrangement fee of 0.5%, Octopus Real Estate offers value and more choice to the Irish market. Maximum loan to value is set at 70.0% and rates begin at 0.75% per month. The product offers ultimate flexibility with no exit penalties. As a short-term financing solution, the term length is between 1 and 24 months.
The launch of Octopus Real Estate’s commercial lending product demonstrates the first step in its ambition to grow its presence across Europe.
Established Product & Experienced Team
Octopus Real Estate is a specialist real estate lender and part of the Octopus Group of companies. A reliable partner, Octopus Real Estate has an experienced in-house team of over eighty people, with decades of investment experience. The property lending team provides bespoke, customer-focused financing solutions across residential, commercial and development sectors. The team has completed over 3,800 loans valued at over £5.0 billion since inception.
James Nunn at Octopus Real Estate, who is leading the launch into Ireland commented:
“Octopus Real Estate is a leading short-term lender in the UK market, having completed c. £2.0 billion of commercial loans over the last ten years. We are known for our speed of execution, transparency and flexibility, and we want to introduce our service to a vibrant and growing new marketplace.”.
Benjamin Davis, CEO of Octopus Real Estate, added:
“Ireland is an important market for us, and our product launch offers Irish clients a trusted finance solution, backed by over 15 years’ experience in non-bank lending. The Irish commercial property market is thriving, and the launch of our commercial lending product will enable the funding of developments of scale across the commercial spectrum. We have a reputation of providing best in class service and attractive lending rates. We believe this product, coupled with our experience in commercial lending, will be a positive addition to the Irish market”.
For journalists in their professional capacity only. Personal opinions may change and should not be seen as advice or a recommendation. Octopus Real Estate is the trading name of Octopus Investments Ltd (Reg No 03942880), Bridgeco Ltd (Reg No 6629989), Fern Trading Group Ltd (Reg No 6447318), Octopus Commercial Term Ltd (Reg No 13486353), Nino Ltd (Reg No 9015082), Octopus Administrative Services Ltd (03974202), Octopus Healthcare Development Ltd (Reg No 03788979), ORE Lending Ltd (Reg No 12908588) and Octopus Co-Lend Ltd (Reg No 8913299), all registered in England & Wales at: 33 Holborn, London, EC1N 2HT, and Octopus Real Estate S.ar.l. (Reg No B189290) registered in Luxembourg at: 412F, Route d’Esch, Grand Duchy of Luxembourg, 2086, Luxembourg. Octopus Investments Ltd and Octopus Co-Lend Ltd are authorised and regulated by the Financial Conduct Authority. Issued by Octopus Real Estate. Issued November 2021.